Quantitative Easing Caused Upswing in Socialism of Millenials, which helps Trump? (Congress, generations)

[michiganmoon]

Interesting article by Mike Shedlock that claims that Ben Bernanke and Janet Yellen's Quantitative Easing caused the upswing in socialism not Trump and that it may benefit Trump.

I am not saying I agree with 100% of the article, just that it is possibly a good discussion.

Here is the synopsis...


->George W. Bush rewrote bankruptcy laws so that millennials couldn't be discharged student loan debt if they filed for bankruptcy.

->The Great Recession strikes and the Fed/Bush/Obama bailed out banks, bailed out bondholders, bailed out companies, and bailed out asset holders.

->In particular trillions of dollars in QE drove up asset prices, which bailed out the asset rich (baby boomers), but penalized the asset poor (millennials). Many millennials felt priced out of homes while dealing with student debt.

-> We are where we are because of decades of congressional and monetary mismanagement by both parties.

->Enter Trump. He isn't the problem, he is a symptom of the problem. He couldn't drain the swamp, but he has failed to make the most with what little chance he had.

Trump won because (1) Obama failed to deliver on hope and change, (2) Millennials wanted Bernie and felt disillusioned with Democrat leadership, (3) Trump appealed to union workers that think China is stealing their jobs, and (4) Hillary is no saint either and many think she is a warmonger.

->Instead of moving towards the center to win back crossover votes and independents, the Left is moving further away from center. Promising freebies to those who lack assets and have been priced out of things while being shouldered with debt.

->The Left harps on wealth inequality and QE massively spiked that.

->These promises aren't economically sustainable. More importantly, talk of $80 Trillion spending plans and slave reparations might scare the middle back into Trump's open arms. "You don't right wrongs by being stupid, no matter how irritated you might be at the current politics."

[MacInTx]

Originally Posted by michiganmoon

->George W. Bush rewrote bankruptcy laws so that millennials couldn't be discharged student loan debt if they filed for bankruptcy.

George W. Bush did not rewrite bankruptcy laws. He may have signed legislation that rewrote bankruptcy laws, but he did not "rewrite" the laws. The Congress writes and passes legislation that becomes law when signed by the President - see the Constitution.

[pknopp]

The damage that QE did to the country is something I've complained about for years.

Like it or not those harmed are going to continue to revolt against the mind think that gave us that and continues to take us down that road.

Like Obama, Trump simply makes empty promises.

[jbtornado]

Originally Posted by pknopp

The damage that QE did to the country is something I've complained about for years.

Like it or not those harmed are going to continue to revolt against the mind think that gave us that and continues to take us down that road.

Like Obama, Trump simply makes empty promises.

Who was the last politician to actually make promises and deliver them? I can't recall many in my life and I'm in my upper 30s now

[pknopp]

Originally Posted by jbtornado

Who was the last politician to actually make promises and deliver them? I can't recall many in my life and I'm in my upper 30s now

So we agree with my statement.

[heart84]

The prop job that QE did to the markets, can be likened to our entire society. We have a lot of failing entities that need to fail. Not everyone gets a trophy, and yes the real-world is difficult. When you let things fail there will be pain short-term, but it cleans out the system and provides a reset.

As far as QE goes, there will be a huge price to pay for all of these record debt levels across government debt, corporate debt, and personal debt levels. It will make 2008-2009 look like the good old days.

I feel badly for the younger generations that have been sold a false bill of goods with the higher education system. The higher education system today leans far left and has ensnared the youth in massive debt loads. Most higher educations are completely useless in the real-world job market today and students are continually led down the wrong path under the current university model. Most of the people "professing" at these colleges and universities have no real-world job experience or expertise. It is a failing system that will continue to fail. Now any candidate can come along and promise a bailout and will literally be buying votes from debt-shackled desperate youth.

[WaldoKitty]

What QE really means to Millennials is a lifetime of servitude in paying taxes taxed to cover just the interest on the debt run up by it.



nd there's a high probability they will be the generation that will have to deal with the specter of not enough wealth being generated to actually cover said interest. The debt can never be repaid. It's mathematically impossible. And the geometric nature means something unknown.

[Jay F]

I like his ideas. So many incorrectly think inequality is related to "tax cuts for the rich". In reality QE has been by far the reason inequality exploded after the Great Recession.

[pknopp]

Originally Posted by Jay F

I like his ideas. So many incorrectly think inequality is related to "tax cuts for the rich". In reality QE has been by far the reason inequality exploded after the Great Recession.

The tax cuts are condemned because the "rich" benefited the most by QE but now don't want to have to be responsible for addressing the debt it caused.